Arcadia Mutual Fund

Ian Renert abandons SEC action, starts up again in South Africa

November 15, 2003

Unlicensed fund manager Ian Renert has abandoned his defense of a $22 million securities fraud lawsuit in the United States and apparently moved overseas to start a new investment scheme.After more than two years of fighting an action filed by

How to take over a NASDAQ-listed firm using ‘toxic convertibles’

November 30, 2000

A lawsuit filed in the United States against a Bahamas-based mutual fund offers a fascinating insight into how stock promoters can wrest control of a publicly-traded firm through alleged stock manipulation. Louisiana-based National Affiliated Corporation claims that it was a victim of a method of stock manipulation known in the industry as a 'death spiral' or 'toxic convertibles'.

Who let the dogs out? Dubious investments of Hawthorne-Sterling fund group

October 31, 2000

Research into publicly-quoted firms linked with Hawthorne-Sterling's mutual funds has revealed an astonishing pattern of alleged stock manipulation, bankruptcies and ties to convicted criminals. There is overwhelming evidence that the companies exist largely so that insiders can benefit at the expense of unsophisticated investors who are sucked in by hype.

Bahamas fund group forced into receivership

September 30, 2000

An unlicensed, unaudited mutual fund group into which over 550 investors invested approximately $13.2 million has been forced into Receivership by the Bahamas Securities Commission. It has triggered a bitter legal battle for control of the Hawthorne-Sterling family of funds between their Receiver, accountant Clifford Culmer, and their founder, American Ian L. Renert.